Yes, Hong Kong Is Putting On Hold Investor Immigration!

The city-state of Hong Kong has always been a center of attraction for growth and development, and being surrounded by two economic stalwarts like India and China, this country gets ample environment to be tapped and put forth for betterment. However, even though you brandish the strongest economy, the best stable government, and highly skilled labor, still you are not immune to uncertainties and stagnancy.

Perhaps, the same happened with Hong Kong–the country that was thriving had suddenly got itself in a sordid state in 2003, and to boomerang from such a stage, it launched a new programme to boost its economy. The scheme was called Investor Visa Programme. With the help of Investor Visa, people from different countries that have a huge wallet can come down to the place, invest in its economy, and help the economy revive.

The Investor Visa Programme seeks a minimum investment of $1.28 million for letting the immigrant to come down, invest and settle in Hong Kong. Going by the record, the investment immigration from 2003-2013 stood at 28,168, and it has raised HK$205 billion, and made the economy stand stable.

Since the economy has now turned stable, now Hong Kong is putting on hold investor immigration. Such investor immigration are also putting additional pressure on the economy even as many investors are not interested in setting up companies; rather, they are more keen towards buying government bonds, stocks and shares.

Such investments don’t yield long term benefits, so the economy is not keen towards such investment that fails to materialize. Since the economy has been smooth and it is growing, now the country doesn’t need more pressure and putting at stake the future of its own citizens.

This step is also to contain the flow of illegal funds from China, as many people in China have taken the Investor Visa as a safe resort to keep their corrupt black money in Hong Kong, and are trying to prevent them from prosecution. However, with the ban on Investor Visa, it would be interesting to see how those immigrants–who have been all this while enjoying a fair stay at Hong Kong–pave things around.

In recent chain of events unfolding in the city-state, immigrants have thronged the embassy and asking the government to take a step back. But, the government looks no keen to take a look back at what has been decided by them. The economy has been thriving and with all the investments that were made through Investor Visa, the economy has used the funds in the best way possible to improve its prospects. At the same time, now the need of the hour is not investment, rather, the economy is in dire need of skilled professionals.

Given this, to fill the vacuum in one area, the economy is all set to loosen some space from the other area, and help people live up to the expectation of the economy, and with Hong Kong putting on hold investor immigration; things are looking pretty favorable to opt for Skilled Migration Visa.